Gondia, India, Jan. 08, 2025 (GLOBE NEWSWIRE) — Global Brain Ischemia Market Research Report published by IMIR Market Research Pvt. Ltd. The Patient Monitoring Accessories Market size was valued at around 7.83 billion in 2023 and is expected to reach a value of USD 16.87 billion by 2032, at a CAGR of 8.9% over the forecast period (2024–2032).
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The global market for patient monitoring accessories has registered significant growth over the past few years due to advancement in healthcare technology, a greying population, and increased prevalence of chronic diseases. Patient monitoring accessories comprise parts like electrodes, sensors, cuffs, lead wires, and probes. These devices are part of patient monitoring systems used in hospitals, outpatient facilities, home care settings, and long-term care facilities to monitor patients in real-time with respect to key health parameters such as heart rate, blood pressure, respiratory rate, and oxygen levels in the blood.
The growing prevalence of chronic conditions, especially cardiovascular diseases, diabetes, and respiratory conditions, has created the need for continuous monitoring products and, subsequently, for high quality and accuracy accessories. Healthcare providers and patients appreciate that proactive monitoring of a patient’s condition helps identify the early signs of complications. For instance, modern monitoring accessories, for example ECG electrodes, blood pressure cuffs are produced with better sensitivity and resilience so as to provide adequate information for clinicians to institute interventions timely. More benefits realized by the advent of technology are wireless and disposable monitoring accessories. These come in handy and are clean and infections-free hence giving a lot of comfort to the patients.
The other critical growth factor in this market is remote and home-based monitoring systems, which have recently gained their popularity due to the COVID-19 pandemic. It is a critical application area with relevance for remote monitoring and managing patients with chronic illness. Patients can easily record their health metrics in these applications and send data about them without having to rush to hospitals frequently. To date, there is growing development in accessories for wearable and portable monitoring devices as the accessories allow seamless communication from these monitoring devices to healthcare providers. This is a trend in line with telemedicine as a whole since the accessories for patient monitoring help facilitate virtual care whereby clinicians are able to make constant care and timely interventions with the patients from distant places.
The healthcare industry has increasingly concentrated on prevention and early diagnosis, which means increased use of patient monitoring accessories. Wearable and sensor-based accessories are being used extensively not only in clinical environments but also for at-home health monitoring, catering to the needs of an active, health-conscious population. Modern accessories have incorporated wireless connectivity, battery efficiency, and ergonomic designs, making them more suitable for everyday use and enhancing patient compliance. Besides, artificial intelligence and machine learning have also improved the health monitoring system capabilities in the healthcare technology sector by enabling integration to analyse data of accessories and provide alerts, which empowered healthcare providers to use decision-making tools to improve patient care.
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Furthermore, favourable government initiatives along with investments to improve healthcare infrastructure and accessibility support growth in this market. In many countries, the strengthening of continuum care-from acute care through chronic and preventive care-by means of patient monitoring accessories is becoming increasingly important in healthcare policy. This is where most investments have been made into research and development by the manufacturers of medical devices themselves, creating new, more accessible, improved, and more precise, dependable, and comfortable accessories for use with medical devices.
With such an optimistic outlook of the market, challenges still lie within, including data privacy and the cost of sophisticated monitoring solutions. However, high demand for effective patient monitoring, the growth of telemedicine, and continuous improvements in technology and the availability of medical devices provide positive indications about a brighter future for the patient monitoring accessories market. As health service providers embrace digital means for providing better health services and monitoring of patients in all categories, the demand for patient monitoring accessories would tend to rise.
Market Drivers
Growing Prevalence of Chronic Diseases
- Growing prevalence of chronic diseases: The patient monitoring accessories market is driven mainly by rising chronic diseases such as cardiovascular, diabetes, respiratory, and hypertension. These chronic conditions will require continuous or periodic follow-up to ensure that they do not have complications arising from health. This increase in demand is thus high for monitoring accessories such as the use of blood pressure cuffs, ECG electrodes, and pulse ox meters because such accessories are needed to record critical health parameters. With the world’s aging population, the population of chronic diseased individuals continues to rise with a great need for uninterrupted health monitoring solutions that are helpful in early diagnosis to enhance the outcomes of patients. Patient monitoring accessories are also equally important in acute and critical care where rapid and precise data acquisition is critical before complications occur. Since chronic diseases will likely continue to be a great burden on healthcare systems, a need for high-quality reliable monitoring accessories will rise up and, therefore, continue to drive the market.
Advancements in Remote Patient Monitoring Technology
- Remote patient monitoring technology has taken a big leap forward by allowing patients to monitor themselves from their homes and report the data to the healthcare providers. This is a trend set by the innovations in wireless connectivity, wearable devices, and portable monitoring systems and has seen an increased need for compatible accessories. Included in the list of compatible accessories are wearable sensors, disposable probes, and wireless ECG patches, which support home-based and telemedicine applications. As much as remote monitoring reduces patient visit frequency in a conventional clinical setting, it really allows for wider access into convenience-also especially where chronic patient needs are a concern-making health care an accessible sector, and further demand and pressure on sales of matching patient monitoring accessories compatible to such remote-monitoring units grows.
Market Opportunities
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Expansion of Telemedicine and Home Healthcare
- Expansion of telemedicine and home healthcare presents an attractive avenue for the growth of patient monitoring accessories market. Popularity of telemedicine skyrocketed with advancement, because it allowed treating patients out of the walls; post the COVID-19 phase. This rise has therefore increased demand from users seeking non-complex items for home applications and those to be readily used on any telemedicine platform. Products such as wearable sensors, wireless blood pressure cuffs, and portable ECG devices enable the tracking of vital signs in a patient’s home with data integration that is quite easy on the part of the provider. The expansion of telemedicine creates broad scope through which manufacturers of accessories that support patient monitoring develops and launch user-friendly, accurate, and reliable products to meet this demand for remote care.
Rising Demand for Wearable Monitoring Devices
- Wearable monitoring devices have witnessed an increasing demand. The trend presents a massive opportunity for the patient monitoring accessories market. Worn out of comfort, the popularity of wearable among health-conscious individuals and patients with chronic conditions who seek convenient ways to monitor their health continuously is high. Accessories like wearable sensors, smart patches, and ECG monitoring patches serve the purpose of non-invasive, comfortable, and real-time monitoring. Increased advances in technology have made such wearable more accurate, efficient, and appealing for wider use. The interfacing of these accessories through a mobile app or health application with the user provides that meaningful information to enhance personal care on personal health management and support its prevention.
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Market Restraining Factors
High Cost of Advanced Monitoring Accessories
- High-cost technologically advanced patient monitoring accessories is one of the major restraints for the market. Some of the accessories such as wireless sensors and sophisticated probes have a high price because it requires research, materials, and precision engineering to develop these products. The high prices may be a barrier to smaller healthcare providers and to patients in low-income areas, limiting their access to the most advanced monitoring technologies. Moreover, the recurring replacement cost or disposable accessories contribute to further increasing the costs, making it less accessible and not very affordable for such products. Consequently, some of the advanced solutions cannot reach the healthcare facilities in developing regions and even some healthcare providers with limited budgets.
Data Privacy and Security Concerns
- As patient monitoring becomes more digitally oriented with data transmitted over wireless networks, issues regarding privacy and security of the data itself have emerged as an important constraint. The transmission of patient data, including health parameters, is typically conducted on networks, making them susceptible to data breaches or cyber-attacks. Safety of such data and consequently the trust in healthcare systems forms a significant requirement. Compliance with regulations, such as HIPAA in the US and GDPR in Europe, will add cost and complexity to deploying patient monitoring solutions as these systems need to conform to tight data protection standards. The healthcare provider companies have to spend big time on cyber security, adding more costs to operational activities, though sometimes hindering their implementation of advanced monitoring accessories.
Segmentation Analysis
The market scope is segmented because of by Product.
By Product
Based on the Product of the market is segmented into SpO2 Sensors, Blood Pressure Cuffs, Brain Monitoring System Sensors, Neuromuscular Transmission Sensors, Temperature Sensors, CO2 Absorbers/Amsorb Filters, ECG Leadwires.
SpO2 sensors have the highest market share of 52.6% in the year 2023 and are also expected to dominate in terms of revenue in the SpO2 Sensors market in the forecast period due to their significance to the patient, wide range of applications, technical progress, higher prevalence of respiratory diseases, and the rising inclination towards home health care and telemonitoring services. More sophisticated sensor types guarantee better performance as well as the longest possible lifespan of products compatible with multi-equipment designed for monitoring purposes.
SpO2 sensors are employed in numerous health care facilities such as hospitals, clinics, ambulatory health care facilities and even in-home health care. The other life support monitor provided to the patients is pulse oximetry, it measures the levels of SpO2 within the patient’s body. It thus furnishes essential information within the assessment of the patient’s status in terms of their respiratory condition in addition to their general condition.
This group segment-the neuromuscular transmission sensors-NMT sensors will increase at a CAGR of 12.9 % during the forecast period and shall be propelled by technology and growth in cases of diseases; besides, moving towards patient-centred care as it becomes the part of an entire network with electronic health systems integrated with health care.
There is a growing demand for better and more sensitive monitoring devices for patients who are suffering from neuromuscular transmission disorders. These sensors work to measure muscle activity, nerve impulse transmission, and blockade of nerve impulses that occur during surgical procedures and other times of intensive care. The sensors of neuromuscular transmission are being included in digital health solutions as well as electronic medical records systems, which allow efficient data capture, analysis, and sharing among healthcare providers.
Regional Snapshots
By region, Insights into the markets in North America, Europe, Asia-Pacific, Latin America and MEA are provided by the study. North America is leading the patient monitoring accessories market at present. This can be attributed to the advanced healthcare infrastructure in place, with a high rate of adoption of latest medical technology and significant health expenditure in the region. In the United States, there is leading healthcare innovation where healthcare providers and patients alike are adapting to new technologies, including remote patient monitoring and wearable devices. Additionally, a high and rising prevalence of chronic diseases, such as cardiovascular diseases and diabetes, is increasing the demand for patient monitoring accessories in this region. Key market players along with an efficient regulatory framework such as FDA approvals further help drive dominance in North America in this market.
On the other hand, in terms of market, it is expected that patient monitoring accessories would grow faster in the Asia-Pacific region. Such a growth is expected mainly because of a large, aged population, increased awareness toward health care, and increasing infrastructures of healthcare especially in the emerging countries, like China and India, wherein most people are under sufferance from chronic diseases that call for low-cost monitoring of patients. Further, the advancements of healthcare technology and the growth in usage of telemedicine and wearable devices have accounted for this growth. With the regional government increasing its expenditure in healthcare reforms and medical device production, the Asia-Pacific market is set to witness strong growth.
List of Companies Profiled:
- Medtronic
- GE HealthCare
- NIHON KOHDEN CORPORATION
- Masimo
- Welch Allyn Warehouse
- LifeScan IP Holdings, LLC.
- Honeywell International Inc.
- Koninklijke Philips N.V.
- OMRON Healthcare Co., Ltd
- F. Hoffmann-La Roche Lt
- ABBOTT LABORATORIES
- DEXCOM, INC.
- PHILIPS HEALTHCARE
- MINDRAY MEDICAL INTERNATIONAL LTD.
- EDWARDS LIFESCIENCES CORPORATION
- GETINGE AB
- BAXTER INTERNATIONAL (HILL-ROM HOLDINGS, INC.)
- BOSTON SCIENTIFIC CORPORATION
Key Industry Developments
In June 2024, Masimo introduced hospital-based remote patient monitoring in partnership with Cleveland Clinic. The collaboration brings together the central patient monitoring platforms of Cleveland Clinic and Masimo’s Hospital Automation technology.
In October 2023, Ricoh USA, Inc. launched its managed services solution, RICOH Remote Patient Monitoring (RPM) Enablement, to support sustainable and effective Remote Patient Monitoring (RPM) workflows and improve the care delivery team and patient experience.
Report Coverage
The report will cover the qualitative and quantitative data on the Global Patient Monitoring Accessories Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.
Report Scope and Segmentations:
| Study Period | 2024-32 |
| Base Year | 2023 |
| Estimated Forecast Year | 2024-32 |
| Growth Rate | CAGR of 8.9% from 2024 to 2032 |
| Segmentation | By Product, By Region |
| Unit | USD Billion |
| By Product |
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| By Region |
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Global Patient Monitoring Accessories Market Regional Analysis
North America accounted for the highest xx% market share in terms of revenue in the Patient Monitoring Accessories market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Patient Monitoring Accessories. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Patient Monitoring Accessories companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global Patient Monitoring Accessories Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
Patient Monitoring Accessories Market Report is also available for below Regions and Country Please Ask for that
North America
Europe
- Switzerland
- Belgium
- Germany
- France
- U.K
- Italy
- Spain
- Sweden
- Netherland
- Turkey
- Rest of Europe
Asia-Pacific
- India
- Australia
- Philippines
- Singapore
- South Korea
- Japan
- China
- Malaysia
- Thailand
- Indonesia
- Rest Of APAC
Latin America
- Mexico
- Argentina
- Peru
- Colombia
- Brazil
- Rest of South America
Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest Of MEA
Points Covered in the Report
The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Questions:
- How much the global Patient Monitoring Accessories Market valued?
- Which region has the largest share in 2021 for the global Patient Monitoring Accessories Market?
- What are the driving factors for the market?
- Which is the leading segment in the global market?
- What are the major players in the market?
Research Scope of Patient Monitoring Accessories Market
- Historic year: 2018- 2021
- Base year: 2022
- Forecast: 2023 to 2031
- Representation of Market revenue in USD Million
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